At a Glance

Forbes Lists

Profile

Haiti is a free market economy with low labor costs and tariff-free access to the US for many of its exports. Two-fifths of all Haitians depend on the agricultural sector, mainly small-scale subsistence farming, which remains vulnerable to damage from frequent natural disasters. Poverty, corruption, vulnerability to natural disasters, and low levels of education for much of the population represent some of the most serious impediments to Haiti’s economic growth. Remittances are the primary source of foreign exchange, equivalent to more than a quarter of GDP, and nearly double the combined value of Haitian exports and foreign direct investment. Currently the poorest country in the Western Hemisphere, with close to 60% of the population living under the national poverty line, Haiti’s GDP growth rose to 5.5% in 2011 as the Haitian economy began recovering from the devastating January 2010 earthquake that destroyed much of its capital city, Port-au-Prince, and neighboring areas. However, growth slowed to below 2% in 2015 and 2016 as political uncertainty, drought conditions, decreasing foreign aid, and the depreciation of the national currency took a toll on investment and economic growth. Hurricane Matthew, the fiercest Caribbean storm in nearly a decade, made landfall in Haiti on 4 October 2016, with 140 mile-per-hour winds, creating a new humanitarian emergency. An estimated 2.1 million people were affected by the category 4 storm, which caused extensive damage to crops, houses, livestock, and infrastructure across Haiti’s southern peninsula. US economic engagement under the Caribbean Basin Trade Partnership Act (CBTPA) and the 2008 Haitian Hemispheric Opportunity through Partnership Encouragement Act (HOPE II) have contributed to an increase in apparel exports and investment by providing duty-free access to the US. The Haiti Economic Lift Program (HELP) Act of 2010 extended the CBTPA and HOPE II until 2020, while the Trade Preferences Extension Act of 2015 extended trade benefits provided to Haiti in the HOPE and HELP Acts through September 2025. Apparel sector exports in 2016 reached approximately $850 million and account for over 90% of Haitian exports and more than 10% of the GDP. Investment in Haiti is hampered by the difficulty of doing business and weak infrastructure, including access to electricity. Haiti's outstanding external debt was cancelled by donor countries following the 2010 earthquake, but has since risen to $2.6 billion as of December 2017, the majority of which is owed to Venezuela under the PetroCaribe program. Although the government has increased its revenue collection, it continues to rely on formal international economic assistance for fiscal sustainability, with over 20% of its annual budget coming from foreign aid or direct budget support. More »

More on Forbes

In recent years, it’s become more common to hear people rattle off the stats that underpin the problem of water—awareness is on the rise. But that doesn’t change the fact that an estimated 2.5 billion people—37 percent of the world’s population—face health risks associated with deficient or absent sanitation facilities, and more than 780 million read »

This post was originally written for Half the Sky Movement: The Game, a Facebook game that creates real change for women and girls.

When you think of social gaming, the first image that probably comes to mind is that of middle-aged women playing FarmVille. Maybe your aunt is constantly sending you requests to help her grow corn read »

After outlasting fourteen other international teams, Dominican Republic baseball fans may soon have cause to celebrate, as the team faces Puerto Rico for a chance to be named world champion in the World Baseball Classic. Through three rounds paired against some of the greatest baseball players in the world, the Dominican Republic made its read »

Haiti‘s Challenges Haiti’s President Michel Martelly (“Sweet Micky” to his music fans) has been urging the world to view Haiti as a tourist destination. It certainly used to be. In 1975, Hillary and Bill Clinton honeymooned in Haiti, as have countless other couples. More importantly, Haiti is, for all her heartache, simply read »

A few weeks ago, I shared 11 podcasts we learned from in 2018. To continue the conversation, I asked a few of the podcasters featured to share their strategies on creating and promoting their content. To measure success, many podcasters, including WaitWhat (the team behind Masters of Scale), follow two key metrics:

While 2017 was the heyday for the entire crypto industry, in 2018 things turned a little darker.

Falling prices, fears around crypto regulation, lackluster institutional interest and concerns over the ICO funding model which had run rampant in the previous year, all combined into the perfect storm of crypto doom and gloom.

In 2004, the leadership of King Arthur Flour gathered to formally sign over control from longtime owners Frank and Brinna Sands to the company’s employee stock ownership program (ESOP). The two had been gradually transferring shares in the Norwich, Vermont, flour maker to the ESOP since 1996 as part of a long-planned exit. Opposed to selling the read »

Content marketers understand how long-form content, SEO, social media and video help raise brand awareness and build a loyal audience, but others in our orbit sometimes need convincing. That’s when having the right data comes in handy. Recent research shows why today’s brands continue to prioritize content in their marketing mix. When read »

The goal of wanting to provide excellent service is nearly universal—that is, most organizations want to provide excellent service to their customers. However, as we have seen at Disney Institute through our work training business leaders and organizations around the world, realizing and consistently delivering on this read »